Suppose a large of firms have cost function C(q) == 72+ 4q+2q 2 and the market demand Q_{D= 712 4p What is equilibrium and the long-runnumber of firms? (a) Q = 600 and N = 100 (b) Q688 and V100 (c) Q = 600 and N== 688 and N = 115 (e) None of the above115 (d) Q

In the long-run, each firm produces an output level where the price is equal to the minimum value of…

Answered: Suppose a large of firms have cost…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Suppose a large of firms have cost function C(q ) = = 72+ 4q+2q 2 and the market demand Q_{D = 712 4p What is equilibrium and the long-run number of firms? (a) Q = 600 and N = 100 (b) Q 688 and V100 (c) Q = 600 and N = = 688 and N = 115 (e) None of the above 115 (d) Q